Youanmi Pincher Well ZincCopper Project Update
Perth, Oct 5, 2016 AEST (ABN Newswire) - The Directors of Venus Metals Corporation Limited (
ASX:VMC) are pleased to announce that geophysical surveying, utilising induced polarisation, of the Pincher Well Volcanogenic Massive Sulphide Trend ('VMS') Trend has commenced.
HIGHLIGHTS
PINCHER WELL
- The Pincher Well Volcanogenic Massive Sulphide Trend ('VMS') is located on granted Exploration Licences E 57/986 & 1019 in the Murchison Mineral Field,
- Exploration at North Dome has previously outlined a substantial body of zinc mineralisation, with associated copper sulphides,
- Venus Metals has commissioned a induced polarisation ('IP') geophysical survey over the 'North Dome' prospect to test the extents, structural architecture and orientation of the mineralised system.
1.0 Introduction
The Induced Polarisation ('IP') survey will test the extents of the substantial zinc-copper mineralisation at North Dome, as well as its surrounds, with a view to outlining the existing mineralisation, it's possible extensions and the position of high-grade lenses of zinc mineralisation (>10%) identified in previous drilling.
2.0 Pincher Well Zinc-Copper VMS Trend
The Pincher Well VMS Trend is located 600km north-northeast of Perth and forms part of Venus Metals Corporation Ltd.'s ('Venus') Youanmi gold & base metal project (Figure 1, refer to link below). The tenements (E 57/986 & 1019) hosting the Trend are situated 15 km southwest of the Youanmi Gold Mine and processing plant. The Youanmi region is well serviced by significant infrastructure associated with historical and ongoing mining operations in the region including those at Windimurra & Sandstone.
The Pincher Dome VMS Trend covers more than 5 kilometres of strike and hosts a number of known zinc and copper prospects including the Linda & Franca Gossans, PW17 zinc discovery and a substantial body of zinc mineralisation at North Dome (Figure 1).
Drilling at North Dome, during the 1970s, outlined a shallowly dipping body of mineralisation up to 20 metres thick at more than 2% contained zinc. This body covers more than 1,000 metres of strike and is over 500 metres wide. Little exploration has been completed at North Dome since that time, however a recent study by Venus Metals indicates that this mineralised body may host an array of 'stacked' higher grade lodes, whose presence would greatly enhance the economics of the system (Figure 2, refer to link below).
An IP geophysical survey has been designed to test the North Dome prospect area with a view to:
- Testing and identifying the lateral extents of the North Dome zinc-copper mineralisation,
- Identifying possible repetitions and the depth extensions of the mineralised lodes,
- Outlining the structural architecture of the mineralised system and orientation of the high grade lodes within the system.
The IP survey will take the form of a number of north-south survey lines along the strike length of the North Dome prospect, with east-west 'tie lines' as required (Figure 3, refer to link below).
2.1 Induced Polarisation Geophysical Surveys
Induced polarisation ('IP') is a geophysical surveying technique utilising electricity to identify conductive, or non-conductive, units within the subsurface rock strata. The method uses a number of electrodes to both transmit and receive electrical currents, measuring the time taken and the signal response to identify geological units enriched in metallic sulphides.
3.0 Conclusion
The IP survey at North Dome is expected to be completed over the coming weeks with results then sent to the Company's geophysical consultants for imaging and interpretation.
Venus Metals looks forward to updating shareholders as the results of the Pincher Well IP survey are made available.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/845XXV6D
About Venus Metals Corporation Limited
Venus Metals Corporation Limited (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
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